SOURCE: BioNitrogen

BioNitrogen

October 03, 2014 09:27 ET

City Council of Perry, Florida Unanimously Approves to Continue Funding Balance of $5 Million to BioNitrogen

WEST PALM BEACH, FL--(Marketwired - Oct 3, 2014) - BioNitrogen Holdings Corp. (PINKSHEETS: BION), a cleantech company that utilizes patented technology to build environmentally-friendly plants that convert biomass into urea fertilizer, announced today that the City Council of Perry in Taylor County unanimously agreed to continue funding the balance of its $5mm guarantee for the loan to BioNitrogen to be dispersed for costs related to the engineering, permitting and construction of the plant in Taylor County. The company continues to make progress toward the completion of the engineering and issuance of the EPC contract.

"The continued support from the City of Perry, the City Council Members, the City Manager, the Taylor County Development Authority and the Taylor County Board of County Commissioners is testament to BioNitrogen's plan to construct a plant in Taylor County and the significant economic impact of manufacturing jobs in the local community," said Carlos Contreras, Sr., Chairman and CEO.

About BioNitrogen Holdings Corp
BioNitrogen Holdings Corp. (PINKSHEETS: BION) is a cleantech company that utilizes patented technology to build environmentally-friendly plants that convert biomass into urea fertilizer. Our mission is to provide safe, cost effective, green solutions that are economically beneficial in locations where biomass is produced and urea is consumed. Additional information can be found at www.BioNitrogen.com.

Safe Harbor Statement
The forward-looking statements contained in this document involve risks and uncertainties that may affect the Company's operations, markets, products, services, prices and other factors as discussed in filings with the Securities and Exchange Commission. These risks and uncertainties include, but are not limited to, economic, competitive, legal, governmental and technological factors. Accordingly, there is no assurance that the Company's expectations will be realized. The Company assumes no obligation to provide revisions to any forward-looking statements should circumstances change, except as otherwise required by securities and other applicable laws.

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